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the skids again. jesse jackson jr. going to jail. one american ceo is really slamming the french. we have all those big stories coming up next. stay with us. scalpel. clamp. glitter. [ male announcer ] staples makes it easier to get everything your business needs. even custom banners. and now get 50% off banners and posters. staples. that was easy. >>> the city of detroit in a financial emergency, it is a complete mess. now the question is, what are the next steps going to be to save this thing? kayla tausche has that story and more. good evening, kayla. >> good evening to you, larry. first up, rick snyder may soon turn the city over to an emergency manager. that manager could run the finances and try to find ways to save money, also the one to decide whether to take detroit into municipal bankruptcy. >>> and jesse jackson jr. is likely headed to prison. he pleaded guilty to misusing $750,000 of campaign funds. he bought himself a $43,000 rollex, as well as bruce lee and michael jackson memorabilia. he'll be sentenced in a few weeks and could face five years in prison. >>> listen to this,
. >>> time now for today's aflac trivia question. in which year did janet jackson's famous wardrobe malfunction occur at the super bowl. the answer when cnbc's "squawk box" continues. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. no they don't. hey son. have fun tonight. ♪ ♪ back against the wall ♪ ain't nothin to me ♪ ain't nothin to me [ crowd murmurs ] hey! ♪ [ howls ] ♪ aw this is tragic man, investors just like you could lose tens of thousands of dollars on their 401(k) to hidden fees. thankfully e-trade has low cost investments and no hidden fees. but, you know, if you're still bent on blowing this fat stack of cash, there's a couple of ways you could do it. ♪ ♪
bernanke gave his very famous speech in jackson hole, wyoming? that was in august of 2010. and that's when the market really took off. the federal reserve obviously having a big influence on what was going on. we moved almost 2,000 points right there. that's the key point here. about 20%. that was just in five months. that was the second really remarkable leg of this rally. across 12,000 on february 1st, 2011. here is the european debt crisis. here is the u.s. debt downgrade. remember that? that was august, 2011. that dropped the market down. caused the dow in fact to drop below 11,000. that was in august of 2011. we had a few volatile months where things bounced around and then over all started moving up again. we passed 13,000. that was february 28, 2012. and basically we had a lot of worries. remember last year about europe and minor moves to the down side, and eventually you could see the final move up here to 14,000. okay. here's the next thing. an important thing. let's look at the markets today. i want to just flip forward to what's happening today. there's a lot of questions about
up and go. we replace chu, live, a jackson, these are people when you replace them, watch those appointments. >> it will be worse. >> pray to god you're wrong. if we can get the regulators to turn maybe not 180 but turn 120 so their slogan every day is come in and find a better way to create a good economy and jobs. wait a minute. don't come in with an attitude of let's get the bastards. >> they are going to turn 360. >> are there any names you like out there that you think would be palatable to administration but business as well. >> i don't know people. i just want somebody that comes in and has a goal of regulating sensibly and creating jobs, not being punitive. i like the president's immigration lines in the announcement. i think he was right on the button, if he can hold to that, fix the border, get a path to citizenship and keep people that we educate. i'm telling you, in government trade, he mentioned that. let's do it. it take us four years to get panama and south korea done. it was on the bush table. it took four years to negotiate and we didn't get anything else new. t
woodforde at jackson hole which said that the fed needs to promise the market that it will act differently in a zero bound environment when the economy starts to improve. we're going to keep going with this policy. and that's what is embedded in the interest rate policy, that's what's embedded in the qe policy. but right now, what's happening is the costs seem to be overwhelming, and the market -- the committee is just not comfortable being there. it's a bit like here's the promise. the promise was you put your hand out and i'm going to light a fire underneath it. and the policy is this, that even when your hand gets too hot, i'm not -- you're not going to remove your hand. you're going to keep in place. what we're finding out now is that this is a promise too far. the board is just not comfortable being there and it's going to have to find the language and the rhetoric to either put it back in place, or find something new -- >> if it's not working you've got to admit it. >> right. >> and you're not getting the benefits you thought you were getting. is this all because of stein? we heard b
Search Results 0 to 4 of about 5